DISTRUST – AUSTRALIA

Bunnings, Aldi and Kmart are Australia’s three most trusted brands, while Toyota, Bendigo Bank and Nike are on the up

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Sep-24

Bunnings has again been crowned Australia’s most trusted brand in the 12 months to June 2024, retaining top spot ahead of supermarket Aldi and discount department store Kmart in third place. The hardware chain has now held top spot as the nation’s most trusted brand for three consecutive quarters, after previous leaders Woolworths and Coles fell down Roy Morgan’s rankings earlier this year. Roy Morgan CEO Michele Levine says the rapid slide down the rankings for both major supermarkets shows how quickly distrust can gain momentum and devalue a brand’s reputation. Meanwhile, Optus is once again the most distrusted brand in Australia, ahead of Qantas and Facebook/Meta.

CORPORATES
ROY MORGAN LIMITED, BUNNINGS GROUP LIMITED, ALDI STORES SUPERMARKETS PTY LTD, KMART AUSTRALIA LIMITED, WOOLWORTHS GROUP LIMITED – ASX WOW, COLES GROUP LIMITED – ASX COL, SINGTEL OPTUS PTY LTD, QANTAS AIRWAYS LIMITED – ASX QAN, META PLATFORMS INCORPORATED, FACEBOOK

June 2024 Quarterly Update – Trust, Distrust and Australia’s Energy Dilemma Webinar

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Sep-24

Join Roy Morgan CEO Michele Levine to discover Australia’s most Trusted and Distrusted brands (including dramatic changes in the rankings); if the plummeting distrust in Woolworths and Coles has continued; which form of energy Australians trust to provide a reliable supply; what percentage of Australians want nuclear power plants; if more men or more women want nuclear power, and whether Australians trust the government to make decisions on energy. Watch the webinar on YouTube.

CORPORATES
ROY MORGAN LIMITED

Rebuilding trust: A strategic imperative for company directors

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Original article by Roy Morgan
Market Research Update – Page: Online : 14-Aug-24

In today’s corporate landscape, trust is not discretionary – it is a critical component of business success. Yet, many Australian company directors and corporate boards struggle with the pervasive issues of distrust and moral blindness. Reversing this requires strategies that go beyond traditional metrics and governance practices. Current metrics like the Net Promoter Score (NPS) focus only on positive sentiment and only on current customers, leaving a significant gap in understanding negative feedback, including broader distrust. To bridge this gap, it is essential to measure negative sentiment. To formulate a ‘Distrust / Moral Blindness’ strategy for company directors and corporate boards in Australia, it is essential to focus on approaches that directly address the root causes of distrust and moral blindness. These include emphasising the importance of Negative Sentiment Measurement, introducing the Net Trust Score (NTS) Framework (which balances positive trust against negative distrust), cultivating a culture of accountability, and developing a Distrust Mitigation Roadmap.

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Net Trust in Australian charities is on the rise over the last few years after hitting a low in mid-2021

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Original article by Roy Morgan
Market Research Update – Page: Online : 24-Jul-24

A special webinar with Roy Morgan CEO Michele Levine which focused on Trust and Distrust in the Australian Charity sector found that Net Trust has been consistently rising over the last few years. However, trust and distrust have fluctuated over recent years. While Charities remain among the most trusted sectors in Australia (third overall behind Consumer Products and Retail in the latest results), the Net Trust Score is still lower than the mid-2020 peak. The Net Trust Score of the Charities sector reached a record high just after the onset of the pandemic, then declined steadily to mid-2021, before recovering from early 2022. The net trust score as of March 2024 has increased by over 50%, and is nearly back to its peak reached in June 2020 in the early days of the pandemic.

CORPORATES
ROY MORGAN LIMITED

Distrust in corporate Australia soars after huge profits and successive scandals but who’s responsible?

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jul-24

A special Roy Morgan End of Financial Year webinar with Roy Morgan CEO Michele Levine, and Nine Network Finance Editor Chris Kohler, explored views of corporate Australia including the rising level of distrust across the economy. Distrust of any organisation or sector has increased significantly since the beginning of the pandemic; when there was more trust than distrust. Now 66% of Australians distrust any organisation or sector compared to 41% that trust – a net result of -25% points, down from -17% points a year ago – a decline of 8% points. A quarter of respondents (26%) mentioned greed and companies too motivated by profit or commercial interests as a reason for their distrust compared to 9% who said this when the pandemic began – up 17% points. In comparison fewer than 1% of respondents mentioned they trust organisations because they are not motivated by profit – a net rating of -25% points. When asked directly, 54% of Australians say they distrust corporate Australia more than they used to, compared to only 10% who trust corporate Australia more than they used to. Over a third of Australians (36%) say there has been no change in the trustworthiness of corporate Australia.

CORPORATES
ROY MORGAN LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Distrust replaces trust for Coles and Woolworths – and it’s just the beginning

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-May-24

Amidst a massive cost of living crisis, calls for an inquiry into allegations of price gouging and heightened media coverage of profit announcements, trust for Australia’s supermarkets has been decimated. Coles has plummeted 221 places from its December 2023 ranking as Australia’s 5th most trusted brand to become the 9th most distrusted brand (on a 12-month rolling average to March 2024). Woolworths has in turn dropped 32 places from its December 2023 ranking as Australia’s 2nd most trusted brand to become the nation’s 34th most trusted brand in March. Roy Morgan CEO Michele Levine says we have been tracking trust and distrust of brands in Australia for more than seven years, but we have never seen a reputational crash as dramatic as Coles and Woolworths. This is in direct contrast to the soaring reputational trust that they gained during the pandemic. Roy Morgan’s data reveals even more dramatic declines in the coming months; its best estimate is that it will take the two supermarket brands at least two years to recover from such a dramatic reputational crash, and only if they can develop and execute a data-driven recovery strategy that is built on much more than PR and spin.

CORPORATES
ROY MORGAN LIMITED, COLES GROUP LIMITED – ASX COL, WOOLWORTHS GROUP LIMITED – ASX WOW

Bunnings replaces Woolworths as Australia’s most trusted brand

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Mar-24

Bunnings has again been crowned Australia’s most trusted brand in the 12 months to December 2023, dethroning Woolworths. Bunnings lost its title as Australia’s most trusted brand to Woolworths in May 2020. However, Bunnings has shown a strong recovery since October 2022, achieving the largest improvement in trust among all trusted brands. Australians’ distrust in companies has grown in the last year, with reasons including corporate greed, poor customer service, unaffordable prices, dishonesty, unethical practices, and poor privacy practices. However, Bunnings has managed to buck the trend against an economic environment where trust has eroded. Meanwhile, Optus remains the most distrusted brand in Australia. It is followed by social media giant (and former and long-standing most distrusted brand) Facebook/Meta, embattled airline Qantas, private health insurer Medibank and media giant News Corp. All four have faced significant scandals in recent years.

CORPORATES
ROY MORGAN LIMITED, BUNNINGS GROUP LIMITED, WOOLWORTHS GROUP LIMITED – ASX WOW, SINGTEL OPTUS PTY LTD, META PLATFORMS INCORPORATED, FACEBOOK, QANTAS AIRWAYS LIMITED – ASX QAN, MEDIBANK PRIVATE LIMITED – ASX MPL, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Penny Wong most trusted Australian politician; Peter Dutton most distrusted

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Dec-23

A Roy Morgan Snap SMS survey has found that Senator Penny Wong has emerged as the political leader with the highest Net Trust Score. She was followed by Shadow Indigenous Affairs Minister Jacinta Nampijinpa Price, who came to the forefront of Australian politics as a lead spokesperson for the successful ‘No’ campaign in the October Voice referendum. Penny Wong retains the position she held in March 2022. Nampijinpa Price and Treasurer Jim Chalmers also record more trust than distrust. Opposition Leader Peter Dutton has emerged as the most distrusted politician (up from second-most distrusted last year). Prime Minister Anthony Albanese has moved into Net Distrust territory, having been a trusted leader in 2022. Meanwhile, Andrew Forrest is the only business leader to record a Net Trust Score. These Roy Morgan Snap SMS surveys were carried out from 28 February to 1 March 2022 and from 16-20 November 2023.

CORPORATES
ROY MORGAN LIMITED

Bunnings overtakes Coles as second most trusted brand

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Original article by Roy Morgan
Market Research Update – Page: Online : 13-Dec-23

Hardware store Bunnings has overtaken Coles as Australia’s second most trusted brand in the 12 months to September 2023. Bunnings was the most trusted brand in Australia in the pre-pandemic era, and was in top spot until May 2020 when overtaken by Woolworths, which has held first place ever since. The most trusted brands are still dominated by major retailers, with Woolworths Bunnings, Coles, ALDI and Kmart rounding out the top five. Meanwhile, telecommunications company Optus remains the most distrusted brand in Australia, even before the recent data outage in early November. Other familiar names near the top of the most distrusted brands include social media giant Facebook/Meta, embattled airline Qantas, private health insurer Medibank and retail giant Harvey Norman.

CORPORATES
ROY MORGAN LIMITED, WOOLWORTHS GROUP LIMITED – ASX WOW, BUNNINGS GROUP LIMITED, COLES GROUP LIMITED – ASX COL, ALDI STORES SUPERMARKETS PTY LTD, KMART AUSTRALIA LIMITED, SINGTEL OPTUS PTY LTD, META PLATFORMS INCORPORATED, FACEBOOK, QANTAS AIRWAYS LIMITED – ASX QAN, MEDIBANK PRIVATE LIMITED – ASX MPL, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Bendigo Bank is the most trusted agribusiness bank among Australian farmers, followed by NAB and CBA

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Original article by Roy Morgan
Market Research Update – Page: Online : 23-Oct-23

A special Roy Morgan Agribusiness Brand Trust Survey of Australian farmers looking at trust and distrust in the nation’s agricultural sector shows that Bendigo Bank is the most trusted agribusiness bank in 2023. Farmers commended Bendigo Bank for its community support, long-term relationships with farmers, the provision of reliable customer service, and for providing solutions locally. The next most trusted banks in the agribusiness sector were National Australia Bank and the Commonwealth Bank. The higher Net Trust Score for Bendigo Bank was largely driven by higher trust among sheep farmers; however, dairy farmers ranked CBA as the most trusted bank. Differences were also evident among beef, horticulture and other livestock farmers. The findings of the Roy Morgan Farmer Agribusiness Brand Trust Survey Report are based on 1,002 in-depth interviews with Australian farmers conducted during July 2023.

CORPORATES
ROY MORGAN LIMITED